State-owned companies to be privatized

Ulaanbaatar/MONTSAME/ At its regular meeting on May 23, the Cabinet discussed a draft parliamentary resolution ‘Approval of the basic guideline to privatize state properties in 2018-2020’ and decided to submit it to the Parliament.

According to the basic guideline, it is planned to privatize 18 state-owned enterprizes fully and 19 enterprizes partly. The State Bank, Mongolian Stock Exchange, Telecom Mongolia Company, Information and Communication Networking Company, Mongolian Commodity Exchange, Mongolian Securities Clearing House and 20 auto road maintenance companies operating in provinces are included in it. The privatization of the companies will be carried out open and fair.

Moreover, the Cabinet decided to postpone and reconsider the privatization of Thermal Power Plants, which are strategically important and directly relate to citizens’ lives.

During the meeting, the Cabinet also approved ‘Investment program for 2018-2021’, which was formulated based on suggestions and proposals of all ministries and participants of ‘Mongolia Economic Forum-2018’.

The program clearly asserts required financing and sources and persons in charge of implementing ready large projects and programs whose feasibility studies have been worked out, such as Oil Refinery, railway and power plants.